By Steven Pearlstein. Challenges theories being taught in business schools and exercised in boardrooms around the country, arguing that a key tenet of Adam Smith’s wealth of nations is missing: without trust and social capital, democratic capitalism cannot survive. Further, equality of incomes and opportunity need not come at the expense of economic growth.
Lays out bold steps such as: a guaranteed minimum income paired with universal national service, tax incentives for companies to share profits with workers, ending class segregation in public education, and restoring competition to markets. Provides a path forward that will create the shared prosperity that will sustain capitalism over the long term. Read more.